On August 4, Pirelli Tire, which was listed in Milan, Italy, released its first-half financial report data.
"China Rubber" magazine learned that, boosted by a variety of factors, the tire manufacturer's half-year performance has recovered strongly, far exceeding market expectations.
Data show that from January to June this year, Pirelli's operating income was 3.197 billion euros, a year-on-year increase of 24.6% (the same below); net profit was 233 million euros, a growth rate of 77.1%.
In the second quarter, Pirelli’s revenue was 1.6759 billion euros, an increase of 26.9%; its net profit was 123.2 million euros, an increase of 37.8%.
Pirelli said that the performance in the first half of the year improved significantly, thanks to the increase in product prices and the improvement of product mix, its contribution value reached a record 20.4%.
During the same period, the total sales volume of Pirelli tires decreased by 1%, but the sales of large-size and high value-added passenger car tires of 18 inches and above maintained high growth.
In the case of better-than-expected half-year performance, the company raised its full-year performance outlook target.
Pirelli expects its full-year revenue in 2022 to be 6.2 billion to 6.3 billion euros, an increase of 300 million euros from the previous estimate.
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